Wasatch Advisors LP Purchases 395,233 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

Wasatch Advisors LP lifted its position in C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,072,601 shares of the company's stock after buying an additional 395,233 shares during the period. Wasatch Advisors LP owned about 8.60% of C4 Therapeutics worth $21,861,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its position in C4 Therapeutics by 38.4% in the 3rd quarter. Barclays PLC now owns 243,457 shares of the company's stock valued at $1,387,000 after acquiring an additional 67,546 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in C4 Therapeutics in the 4th quarter worth about $215,000. Wellington Management Group LLP raised its position in C4 Therapeutics by 24.7% in the 3rd quarter. Wellington Management Group LLP now owns 286,041 shares of the company's stock worth $1,630,000 after buying an additional 56,696 shares during the last quarter. Mariner LLC boosted its holdings in shares of C4 Therapeutics by 28.8% during the 4th quarter. Mariner LLC now owns 167,975 shares of the company's stock valued at $605,000 after acquiring an additional 37,564 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of C4 Therapeutics by 18.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 227,147 shares of the company's stock worth $818,000 after acquiring an additional 34,783 shares during the period. Hedge funds and other institutional investors own 78.81% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of C4 Therapeutics to a "hold" rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

C4 Therapeutics Trading Down 0.4 %

CCCC stock traded down $0.01 during midday trading on Tuesday, reaching $1.40. 290,257 shares of the company's stock traded hands, compared to its average volume of 1,389,998. C4 Therapeutics, Inc. has a 52-week low of $1.09 and a 52-week high of $7.66. The stock has a market cap of $99.03 million, a P/E ratio of -0.82 and a beta of 3.11. The stock's 50-day moving average is $2.03 and its 200 day moving average is $3.64.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). The company had revenue of $5.18 million for the quarter, compared to analysts' expectations of $4.43 million. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. As a group, research analysts expect that C4 Therapeutics, Inc. will post -1.52 EPS for the current fiscal year.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma, currently under Phase 1/2 clinical trials.